Stocks In the News: Check out the companies making headlines before the opening bell.
Results on May 10: Asian Paints, Cipla, Vodafone Idea, Gujarat Gas will be in focus. Asian Paints, Cipla, Vodafone Idea, Gujarat Gas, Ajanta Pharma, Cera Sanitaryware, Chalet Hotels, Chemplast Sanmar, Dishman Carbogen Amcis, Elantas Beck India, Electrosteel Castings, Kansai Nerolac Paints, Max Financial Services, Mahanagar Gas, MRF, Polycab India, Neuland Laboratories, Orient Electric, Reliance Capital, R Systems International, Shemaroo Entertainment, Tajgvk Hotels & Resorts, TD Power Systems, Torrent Power, Venky’s (India), and Welspun India will release quarterly earnings on May 10.
HCL Tech: HCL Tech to acquire Bengaluru-based Quest Informatics for Rs 15 cr cash. HCL Technologies announced it will acquire Bengaluru-based Quest Informatics, an aftermarket, Industry 4.0 and IoT company, in an all-cash deal worth Rs 15 crore. The company founded in 2000 had revenue of Rs 13.6 crore for FY21. It has come down from Rs 18.6 crore reported in FY20. HCL Technologies also adopted Intelligent Data Migration Platform from Syniti.
Rainbow Children’s Medicare: Rainbow Children’s Medicare to debut on May 10.
KEI Industries: KEI Industries net profit up 35% YoY to Rs 116 crore. The company clocked 35 percent year-on-year growth in consolidated profit at Rs 116 crore in the quarter ended March 2022, led by other income, operating income and robust topline. Revenue during the quarter increased by 44 percent to Rs 1,792 crore YoY.
3i Infotech: 3i Infotech net loss narrows in March quarter. The IT company posted a loss of Rs 3.9 crore for the March 2022 quarter, which narrowed from Rs 22.63 crore in previous quarter. Revenue grew by 6 percent sequentially to Rs 175.6 crore.
Gujarat Narmada Valley Fertilizers & Chemicals: Gujarat Narmada Valley net profit doubles in March quarter. The company more than doubled its consolidated profit to Rs 643 crore from Rs 310.5 crore in the same period last year, due to strong operating income and topline. Revenue grew by 60 percent to Rs 2,772 crore from a year ago.
Borosil: Borosil consolidated net profit surges 88% YoY. The company recorded a consolidated profit at Rs 34.6 crore for the quarter ended March 2022, up 88 percent from the same period last year. Revenue grew by 19.5 percent to Rs 220 crore during the same period.
Godrej Agrovet: Godrej Agrovet net profit rises 121% YoY. The company reported 120.6 percent year-on-year growth in consolidated profit at Rs 140 crore in Q4FY22 driven by higher other income, operating income and robust topline. Growth in profitability was largely driven by animal feeds, vegetable oil and Astec LifeSciences, while crop protection and food businesses reported a decline in operating margin. Revenue increased sharply by 42 percent to Rs 2,081 crore from a year ago.
Craftsman Automation: Craftsman Automation net profit up 9% YoY in March quarter. The company recorded 8.8 percent year-on-year growth in consolidated profit at Rs 51.5 crore in Q4FY22 with tepid growth in EBITDA (up 2.8 percent) due to higher input cost. Revenue grew by 22 percent to Rs 656.7 crore from a year ago.
VST Tillers and Tractors: VST Tillers net profit surges 71% in March quarter. The company registered 71 percent year-on-year growth in profit at Rs 22.1 crore in the quarter ended March 2022 on the back of 285 percent YoY growth in EBITDA at Rs 30.15 crore. Revenue grew by 12 percent to Rs 218.4 crore during the same period.
SRF: SRF net profit surges 59% to Rs 606 crore. The company reported massive 59 percent year-on-year growth in consolidated profit at Rs 606 crore in Q4FY22 with significant growth in chemicals business and other segments. Consolidated revenue grew 36 percent to Rs 3,549 crore during the same period.
Bhageria Industries: Bhageria Industries gets environment nod for setting up manufacturing plant. The company has received an environment clearance for setting up a plant of ‘synthetic organic chemicals’ in Valsad.
Aarti Drugs: Aarti Drugs reports 7% YoY net profit to Rs 55 crore. The company reported 7.1 percent year-on-year growth in consolidated profit at Rs 55.32 crore in the quarter ended March 2022 with tepid growth of 6 percent in EBITDA at Rs 86 crore. Revenue grew strongly by 38 percent to Rs 694.3 crore during the same period.
Cosmo Films: Cosmo Films net profit surges 45% YoY to Rs 108 crore. The company recorded a 45.3 percent year-on-year growth in consolidated profit at Rs 108.2 crore in the quarter ended March 2022, driven by higher operating income and topline. Revenue grew by 22 percent to Rs 821 crore during the same period. The company announced the issue of bonus equity shares in the proportion of one equity share for every two existing equity shares held by the shareholders as on the record date.
Elcid Investment: Elcid Investment shareholders reject delisting proposal. Shares of Elcid Investments will be in focus after shareholders rejected the delisting proposal of the firm. The Mumbai-based company has been a comatose counter with less than 50 trades in the last one decade. It is owned by the Arvind Vakil family, which is among the promoters of Asian Paints, along with the Dani and Choksi family.
Moneycontrol News
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